Why should you choose Condon-Meek Inc. for your Life Insurance needs?
Condon-Meek has been serving the state of Florida since 1954. As an independent agency, we have access to multiple carriers and we can do the research to find the best coverage for your needs.
Life insurance comes in two main forms: term and permanent. A term life policy will pay out if the insured dies during the term of the policy. Permanent life combines your death benefit coverage of a term policy with investment options that can build cash value over time. Some of the permanent policies also include the option for the insured to access the money if needed.
Condon-Meek can help you choose the right coverage for your needs, so you can skip the hassle and gain peace of mind.
Permanent Life Insurance Options
- Whole Life Insurance
- Universal Life Insurance
- Variable Life Insurance
- Variable Universal Life Insurance
Whole Life Insurance
Offers a fixed premium for the life of the policy with guaranteed annual cash value growth and guaranteed death benefits.
Universal Life Insurance
This type allowed the insured to decide the amount and timing of the premium payments to a degree. The insured is also able to adjust the coverage levels as their needs change.
Variable Life Insurance
Variable Life allows for allocation of investment funds across stocks, bonds or money market accounts with different levels of risk and growth potential. A minimum cash value is not guaranteed due to market fluctuation and coverage amounts cannot be changed. This type puts the insured at greater risk due to market risk, but also has the potential for greater long term returns.
Variable Universal Life Insurance
This type is a combination of variable and universal life insurance and offers the most flexibility in comparison to other permanent life insurance choices. The insured has the option to vary premium payments, investments and coverage amounts. Variable Universal Life is a greater risk to the insured than whole or universal life policies, but does offer a variety of market products for investment and may allow policyholders to make tax-free transfers among investments.
Factors that affect premiums:
- Your age at time of policy purchase – the older you are, the more expensive the premiums
- Your overall health
- Pre-existing and/or chronic health problems
- Poor health habits – i.e. smoking, excessive drinking
- Engaging in dangerous hobbies – i.e. skydiving, rock climbing
- Your driving record
- Your location